Coinbase CEO Brian Armstrong Defends Memecoins, Compares Bitcoin and the USD to the Sector

Armstrong took to Twitter to add his two cents to the current discourse surrounding memecoins.

Coinbase CEO Defends Memecoins, Claims Bitcoin and USD Could Be Deemed ‘Memecoins’

After a turbulent few weeks for memecoins, Coinbase CEO Brian Armstrong has stepped in to defend the sector.

The crypto figurehead has highlighted the role of memecoins in the broader narrative of digital assets.

Armstrong’s comments come amid a broader narrative around memecoins, with the recent furore over the TRUMP and MELANIA coin.

Coinbase CEO Highlights Memecoins in Broader Narrative

It’s been a tough few weeks for memecoins.

The furor over TRUMP and MELANIA coin is yet to die down, and the pump-and-dump scheme from Argentine President with his Libra coin further battered relationships between investor and industry.

But with memecoins under fire, Coinbase CEO and crypto figurehead Brian Armstrong has stepped in to Xdefender the sector.

Armstrong took to Twitter / X to add his two cents to the current discourse surrounding memecoins. On the back of market despondency over scams and bad actors, memecoins have left many with a bad taste in the mouth.

However, Armstrong believes that memecoins are an integral part of the crypto sphere’s culture and are a representation of the broader, hyper-connected society we live in today.

Most of all, he argues that Coinbase, as a company, believes in customer freedom – if they want something, and it isn’t illegal, they can have it.

Bitcoin, Memecoins, and the USD

The Twitter / X post even goes as far as to claim ‘Bitcoin is somewhat of a memecoin’, before doubling down and suggesting one could argue so too is the US Dollar.

In general, Armstrong believes that memecoins have a huge role to play in the evolution of digital assets, even if they are a bit of a…well…meme for now.

Ultimately, to foster a thriving Web3 space, Armstrong calls for bad actors to be purged and to ‘lift up the people trying to build lasting value’.

This will no doubt go a long way to legitimising the blockchain world, but in particular, the memecoin industry. So, love them or hate them, memecoins are probably here to stay.